Montréal Exchange Inc. (MX) and TSX Group Inc. (TSX Group) today announced they have agreed to combine their organizations to create TMX Group Inc. (TMX Group).
Details are in the CNW press release from this morning. Advantages of the change:
The combination of TSX Group and MX will create a leading exchange group encompassing multiple asset classes and comprising a broad range of cash and derivatives operations. By bringing together their respective knowledgeable and experienced teams, TMX Group will have the resources and scale to develop and successfully market new capital markets products, high value data services and to offer an integrated clearing solution to an enlarged and international customer base. Furthermore, TMX Group expects strong prospects for growth outside of Canada, particularly in the U.S. via MX’s interest in Boston Options Exchange (BOX), to which TMX Group is strongly committed. This will place TMX Group in the best position to compete in today’s rapidly evolving and increasingly competitive global financial marketplace.